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  • Apple's Record Market Cap Inspires New Price Targets for AAPL


    One day removed from Apple's record-breaking close on Wall Street (Apple's market cap hit $710 billion -- a record close for any U.S. company), Wall Street watchers and market analysts are understandably taking a closer look at where shares of the white-hot company are headed.

    By most accounts, the consensus on direction is clear -- higher. Consequently, Wednesday morning is bringing with it some revised projections for AAPL. Most notably perhaps, is J.P. Morgan's revised forecast, which comes to us via analyst Rod Hall.

    Hall told investors a few hours ago that J.P Morgan is upping its estimates for AAPL (largely to account for April expectations of Apple Watch) with a raised price target of $145. That is, the financial titan believes shares could hit that target before the end of 2015. While there are other analysts who believe Apple could hit that price much, much sooner, conservative market watchers are reminding themselves of just how much growth AAPL has enjoyed already in the past year (so they are cooling their jets a bit).

    According to Market Watch, Hall's year-end target moves up "19% above Tuesday's closing price of $122.02, from $140. He lifted his 2015 earnings-per-share estimate by 2.4% to $9.21 and his 2016 forecast by 10% to $10.50. Hall believes the base of users who own Apple Watch compatible models, such as the iPhone 5 or newer models, will be 400 million at the end of March 2015, rising to 525 million at the end of 2015 and to 627 million by the end of 2016."

    Source: Market Watch
    This article was originally published in forum thread: Apple's Record Market Cap Inspires New Price Targets for AAPL started by Michael Essany View original post